Greek Tragedy ( Capitalism in crisis....again! )

[theVOID]

theVoid asks if I'm serious. Well yes actually.
The Greek people have already suffered 1 round of attacks on their living standards and are about to face a second.

Yeah, that's what happens when your state gets into ridiculous amounts of debt and because of their fiscal recklessness and incompetence they have fuck all to show for it. Being the state their liabilities extended to all public assets, now the people they owe vast sums of money to want their loans repaid and Greece is in a position where it either has to make drastic cuts to it's public sector (the cost of it's reckless malinvestment) in order to secure reinvestment by the EU in the form of bailouts, or it has to default on it's loans and go through a nasty period of shrinking growth, skyrocketing interest rates and low purchasing power.

It's by and large not the fault of the people, they're not the ones who squandered so much investment, this falls on their corrupt state and the international bankers who got to cosy up with the government to leech of the wealth of the people.

This dose of capitalist medicine will see state organisations sold off to private enterprise with a knock-on effect of more unemployment and poorer pay and conditions for those employed in the new companies. Also, there will be more cuts to public services the people rely on.

Are you just ignorant of what capitalism is or do you choose to ignore the fact that Greece is in fact an example of a collapsed and dying welfare state? The EU's bailouts aren't remotely capitalist either, they will likely crush what is left of Greece's already small market economy.

The people rightly recognise that they are not responsible for any fiscal crisis the country has and are rightly against taking the capitalist medicine the moneymen are prescribing.

Does capitalism just meed 'boogie man' to you? Because not only has capitalism got fuck all to do with the European Union and Greece, but the 'moneymen' in this case are not the banks, they're already looking to recover the money that they lent to Greece and probably won't get back, they aren't prepared to loan it even more money, so it's up to the EU to give Greece the credit by taking it from other member nations and borrowing against their assets because they believe they will recover more European investment in Greece long term than if they let it default.

That is why progressives everywhere wish them well in the age old fight of the ordinary worker to maintain what hard-won benefits they still have whilst the rich and powerful continue to attack those benefits.

The problem here was the Greek people NOT having enough control over their own finances and how to spend and invest it and it was not the lost in the private sector post 2008 to anywhere near the extent that it was in the public sector in Greece, it was State debt that was the big problem, not privately held debt.

---

It's not just capitalism, but also the elite deals done by the few who've been enriched by their exploitation of damn near everything.

Which is Mercantilism, not Capitalism.